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When Harry returned from a business meeting in Ho Chi Minh City, Vietnam, his wife asked him what he thought of the Vietnamese people. Harry replied, "They're primitive people who eat animals from the streets, drive wildly around town on motor scooters, and talk very fast." Harry's reply best qualifies as an example of ________.
Big Data
Refers to extremely large data sets that may be analyzed computationally to reveal patterns, trends, and associations, especially relating to human behavior and interactions.
Price Discriminate
A pricing strategy where identical or substantially similar goods or services are sold at different prices to different customers.
Personalized Pricing
A pricing strategy where prices are set for individual customers based on their perceived willingness to pay, often using data analytics.
Barriers to Entry
Factors that prevent or impede the ability of a new competitor to enter and operate in an industry.
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